M&M denies reports of business restructuring; says no plan to demerge auto, tractor units

The company stated that it sees much greater value in the synergies by keeping these businesses together under the entity.

“>

Mahindra & Mahindra Ltd. on Thursday denied media reports which suggested a possible restructuring of its core business units.

In a regulatory filing, the auto giant stated that there is no plan for a demerger of its auto and tractor businesses.

Earlier in the day, The Economic Times reported that Mahindra Group is evaluating the separation of its core businesses — tractors, passenger vehicles (including EVs) and trucks — into independent entities.

The company also stated that it sees much greater value in the synergies by keeping these businesses together under the entity.

“There is no plan for a demerger of the Auto and Tractor businesses. The company has clarified this in the past and maintains that it sees much greater value from synergies by keeping these businesses within the M&M entity,” the company said in the regulatory filing.